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M&A Deal Summary

Reach Subsea Acquires iSurvey

On February 17, 2022, Reach Subsea acquired energy services and equipment company iSurvey from Norvestor Equity AS for 135M NOK

Acquisition Highlights
  • This is Reach Subsea’s 1st transaction in the Energy Services and Equipment sector.
  • This is Reach Subsea’s largest (disclosed) transaction.
  • This is Reach Subsea’s 1st transaction in Norway.

M&A Deal Summary
Date 2022-02-17
Target iSurvey
Sector Energy Services and Equipment
Buyer(s) Reach Subsea
Sellers(s) Norvestor Equity AS
Deal Type Add-on Acquisition
Deal Value 135M NOK

Target

iSurvey

Billingstad, Norway
iSurvey is a supplier of specialist survey and positioning services for offshore operations such as rig moves, marine construction work and seabed mapping. The customers are global oil and gas, contractors, renewable energy and telecommunications companies. iSurvey was founded in 2004 and is based in Billingstad, Norway.

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Buyer(S) 1

Buyer

Reach Subsea

Haugesund, Norway
Category Company
Founded 2008
Sector Marine
Revenue 2.7B NOK (2024)
DESCRIPTION

Reach Subsea is a provider of IMR, ROV, Survey, Construction Support and Decommissioning Services. Reach Subsea was founded in 2008 and is based in Haugesund, Norway.

DEAL STATS #
Overall 1 of 1
Sector: Energy Services and Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Norway M&A 1 of 1
Year: 2022 M&A 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Norvestor Equity AS

Oslo, Norway

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 2.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity is based in Oslo with an additional office in Stockholm.

DEAL STATS #
Overall 46 of 52
Sector: Energy Services and Equipment M&A 4 of 4
Type: Add-on Acquisition M&A Deals 18 of 18
Country: Norway M&A 31 of 34
Year: 2022 M&A 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-13 CIC Hospitality

Oslo, Norway

CIC Hospitality is an independent owner and operator of price friendly hotels in the Nordics, operating both own hotels as well as externally owned hotels on behalf of real estate owners or other hotel chains. With a focus on cost management and innovative solutions, the Company offers affordable accommodation in cities and locations with limited accommodation alternatives. CIC Hospitality was founded in 2018 and based in Oslo, Norway. ​

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 Upheads

Stavanger, Norway

Upheads is a IT service provider tailored for SMEs, with a particular focus on cloud services, security and software development based on Microsoft services and solutions. Upheads was founded in 2013 and is based in Stavanger, Norway.

Buy -
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